Quote:
Originally Posted by georgihh
At the moment the prices are stabilizing.
There is enough property to rent out and enough tenants to occupy them.
What will happen next year?
International city 10000 flats to be delivered
Discovery gardens 10000 flats to be delivered
JLT 5000 flats to be delivered
At least another 20000 flats and villas to be delivered from miscellaneous projects.
That’s 45000 thousand units’ average of 4 people per unit 180000 people.
This is double than the people currently immigrating to Dubai.
10 % of the properties will not be occupied
Still Ok but comes 2009 will be even worst 20 % of the buildings wont be occupied and that’s the turning point where the landlords will start dropping prices just to rent out their properties. And ones this starts the property market will crash.
The only solution is to delay the delivery of the new projects and postpone the crash.
Conclusion – buying a property in UAE it’s a gamble
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Not correct, currently 30.000 new immigrants per month are coming to Dubai (I have read it on ZAWYA.com). If you take this number into account your whole calculation does not make sense any more
